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Real Estate Investments | 3 Months Ended
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Mar. 31, 2015
Real Estate [Abstract] |
REAL ESTATE INVESTMENTS | REAL ESTATE INVESTMENTS As of March 31, 2015 and December 31, 2014, the gross carrying value of the Company’s Properties was as follows (in thousands):
| March 31, 2015 |  | December 31, 2014
Land | $ | 646,132 |  |  | $ | 669,635 |
Building and improvements | 3,313,807 |  |  | 3,409,303 |
Tenant improvements | 517,918 |  |  | 524,754 |
| 4,477,857 |  |  | 4,603,692 |
Assets held for sale - real estate investments (a) | 136,802 |  |  | 27,436 |
Total | $ | 4,614,659 |  |  | $ | 4,631,128 |
(a) | Real estate investments related to assets held for sale above represents gross real estate assets and does not include accumulated depreciation or other assets on the balance sheets of the properties held for sale.
Dispositions On January 8, 2015, the Company sold two office properties known as Atrium I, which includes 99,668 square feet of rentable space located in Mt. Laurel, New Jersey, and Libertyview, which includes 121,737 square feet of rentable space located in Cherry Hill, New Jersey, for a total sales price of $28.3 million resulting in a gain on sale of $9.0 million after closing and other transaction related costs. Held for Sale On April 9, 2015, the Company sold the Lake Merritt Tower, consisting of 204,336 rentable square feet, located in Oakland, California for a sale price of $65.0 million. See Note 14, "Subsequent Events," for further information regarding this disposition. As of March 31, 2015, the Company categorized this property as held for sale in accordance with applicable accounting standards for long lived assets. At such date, the carrying value of the property exceeds the fair value less the costs of sale. As a result, the Company recognized an impairment loss totaling approximately $1.7 million, which approximates the cost of sale, during the three months ended March 31, 2015. As of March 31, 2015, the Company classified two properties totaling 200,275 rentable square feet known as Delaware Corporate Center I and II in Wilmington, Delaware and three properties totaling 284,907 rentable square feet known as Christiana Corporate Center in Newark, Delaware as held for sale in accordance with applicable accounting standards for long lived assets. The disposal of the properties referenced above do not represent a strategic shift that has a major effect on the Company's operations and financial results. Accordingly, the impairment loss on the Lake Merritt Tower and operating results of these properties remain classified within continuing operations for all periods presented.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 10 -Subparagraph 4 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 + Details
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